Fox Ventures - November 15th, 2023

*DEAL DESK* - AI to analyze commercial contracts with 558% YoY growth and $3.5M ARR, backed by Guggenheim, PIF, Align Ventures, and others.

Author

Chad Fox
November 15, 2023

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Fox Ventures is the venture capital arm of F Partners, a Private Office that provides bespoke advice to Family Offices and Entrepreneurs.

Through our unique network of Family Offices, Entrepreneurs, and Tier 1 VCs we get the opportunity to co-invest alongside them.

We are sector/stage agnostic and only invest where a top venture firm or one of our partners is leading the round.

If you’re an accredited investor, get access to our deal flow and invest alongside us here. Fox Ventures has some exciting opportunities to participate in so be sure to check our deal desk below and check your investor account on AngelList.

This week’s roundup:

  • Fox Ventures deals of the week

  • My conversation with Benedikt Langer, Advisor to the Sutton Firm

  • Fox Ventures portfolio company news

  • What I’ve been reading this week

  • Advisory Hours

Let’s dive in 👇

Deals I’m seeing 💼

AI/FinTech/LegalTech Company: AI as a service to analyze business contracts.

  • 558% YoY growth

  • $3.5M ARR → $15M ARR EO23

  • $0 spent on marketing

  • 20+ enterprise customers

Over 50% of the current round is committed and the company is backed by Guggenheim, PIF, Great Oaks Venture Capital, Align Ventures, and others.

PropTech Company – Home equity access solutions targeting cash-light/rich-in-equity homeowners in a massive $33T market.

  • $31M in top-line revenue FY2022

  • Innovating by using Home Equity Agreements (HEA) for homeowners who can’t qualify for home equity loans or HELOCs

  • Raised ~$500M in credit in 2023 from Barclays, Texas Capital Bank, and Jefferies

The company is raising $10M in a Series A extension to scale faster with greater profitability and solidify its position as the dominant market leader.

*Nothing in this email should be taken as investment or legal advice. You should consult your legal counsel and accountant to understand how a particular investment will impact your portfolio and tax status. You are responsible for doing your own due diligence on any investment you make.

Full details on the above deals are available to Fox Ventures syndicate members. If you are an accredited investor, you can view the details of each deal and get access to my deal flow below:

If you’d like an introduction to a company, please reply and let me know - this is reserved for larger potential checks.

Podcast Appearance 🎙

Investing in a fund or company is usually a multi-decade journey and so the investment process needs to reflect that, especially when dealing with family offices. 

Most family offices want to invest across multiple vintages and will also back founders across multiple companies. 

Given the flexible nature of their capital, it’s important to build the relationship at the building to set the foundation for this multi-decade partnership. 

Too many founders or GPs don’t see this or work at this and end up working only towards the close. 

Benedikt Langer gives us his view on the topic👇

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Portfolio company news 🗞

Fox Ventures portfolio company, Pipe, is the modern capital platform built to connect entrepreneurs and business owners to fast, frictionless, dilution-free financing.

FTA Welcomes Pipe, the Modern Capital Platform, to Association

The Financial Technology Association (FTA) today welcomed Pipe as its newest member. Pipe is the modern capital platform.

pipe.com/news/fta-welcomes-pipe-the-modern-capital-platform-to-association

The Financial Technology Association (FTA) welcomes Pipe as their newest member to the Association.

About the FTA: The Financial Technology Association (FTA) is a Washington, DC-based trade association representing industry leaders shaping the future of finance. We champion the power of technology-centered financial services and advocate for the modernization of financial regulation to support inclusion and responsible innovation.

“Pipe’s mission is to empower founders so they can build, and scale their companies on their own terms. We are excited to join the Financial Technology Association’s community of fintech leaders and work collectively to build a more flexible, transparent, and accessible future of finance that better serves America’s entrepreneurs.”

Luke Voiles, CEO of Pipe

Fox Ventures invested in Pipe in 2021.

What I’m reading 📖

When is the right time to establish your family office?

A growing number of entrepreneurs, professional investors and public figures are exploring the benefits of starting a family office. But many first-generation wealth creators don’t necessarily know where to start

How Family Offices Are Taking the Reins and Skipping the VC with Dave Sachse

Sydecar is a deal execution platform for venture investors. We handle back-office operations for emerging venture investors, automating banking, compliance, contracts, and reporting so that customers can focus on making deals and building relationships.

Roles within the Investment Committee – The Critical Friend

The family office is setting up an investment committee, what are some of the roles that should be considered? In this article I look at one close to my heart as it’s often the role I take within the investment committee – the Critical Friend. Why are they necessary? Objective Perspective: Being somewhat detached from the regular operations of the family office, a critical friend can provide a fresh viewpoint. They are less likely to be influenced by internal politics or dynamics. Expe

Advisory hours 🗓

Chad Fox is an advisor to entrepreneurs and family offices through his firm F Partners. Chad has a global network that spans from North America to the Middle East and can help you with formation, fundraising, business development, and all the challenges that come with building an early-stage company. He is a qualified lawyer, angel investor, and venture capitalist.

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